RUMOR MILL
AOL’s stock gained 1 11/16 to 63 in early trading Tuesday, while Time Warner’s stock added 2 to 89
Tuesday, March 14, 2000
GOLDMAN SACHS ON AOLTW: YOU'VE GOT PROFIT POTENTIAL
AOLTW Merger Gets Thumbs Up From Goldman Sachs
America Online’s agreement to acquire Time Warner has been given a big thumbs up from influential Wall Street securities firm Goldman Sachs & Co., who placed an 18-month target price of $105-$110 on the shares of the biggest Internet provider.
AOL’s stock gained 1 11/16 to 63 in early trading Tuesday, while Time Warner’s stock added 2 to 89.
Goldman joins Merrill Lynch and a group of other investment houses endorsing the deal, which would give AOL much-needed news and entertainment content, as well as cable up the wazoo.
